Net Serviços de Comunicação S.A. ("NET" or "Company"), pursuant to paragraph 4 of Article 157 of Law 6,404/76 and CVM Instruction 358/02 issued by the Brazilian Securities and Exchange Commission ("CVM"), hereby informs its shareholders and the public in general that the Company’s Extraordinary Shareholders’ Meeting held on April 5, 2012, resolved on: (a) the cancellation of NET’s registration as a publicly-held company, subject to the result of the unified public tender offer for the acquisition of all shares issued by the Company, to be held by Embratel Participações S.A. ("Unified PTO"); and (b) the discontinuation of the Level 2 Special Corporate Governance Practices, subject to the realization of the Unified PTO.
In addition, shareholders representing the Company’s free float who attended the meeting, pursuant to item 10.1.1 of the Level 2 Rules of the BM&FBOVESPA, unanimously selected Banco BTG Pactual S.A. to prepare the Company’s valuation report, for the purpose of the Unified PTO. The selected company should comply with the criteria set forth in Article 4, paragraph 4 of Law 6,404/76.
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Material Fact - Extraordinary Shareholders’ Meeting Resolutions and Evaluator Selection
